Weaver C. Barksdale & Associates Inc. Has $1.82 Million Holdings in Enbridge Inc. (NYSE:ENB)

Weaver C. Barksdale & Associates Inc. trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,879 shares of the pipeline company’s stock after selling 1,080 shares during the period. Enbridge accounts for 1.7% of Weaver C. Barksdale & Associates Inc.’s investment portfolio, making the stock its 24th biggest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Enbridge were worth $1,819,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after buying an additional 3,611,421 shares in the last quarter. GQG Partners LLC grew its stake in Enbridge by 2.1% during the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock valued at $3,151,500,000 after acquiring an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. increased its holdings in shares of Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock valued at $1,643,935,000 after purchasing an additional 1,040,799 shares during the period. National Bank of Canada FI increased its holdings in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after purchasing an additional 2,061,758 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Enbridge by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after purchasing an additional 176,733 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

ENB stock opened at $44.44 on Wednesday. The company has a market capitalization of $96.84 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 3.92 and a beta of 0.95. The firm has a 50 day moving average of $43.48 and a two-hundred day moving average of $42.42. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12 month low of $32.86 and a 12 month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the company posted $0.64 earnings per share. As a group, equities analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ENB has been the topic of several research reports. TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Finally, Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.